Section 28-307 - Purchase of service credit. - Maryland Statutes

§ 28-307. Purchase of service credit.
 

(a)  In general.-  

(1) In the year of retirement, a member may purchase service credit for eligibility service of up to 10 years for periods of employment for which the member: 

(i) would have been entitled to purchase service credit under the Employees' Pension System; and 

(ii) is not otherwise entitled to service credit under the Local Fire and Police System. 

(2) To purchase service credit under this section, a member must: 

(i) complete a claim for the service credit and file it with the Board of Trustees on the form that the Board of Trustees provides; and 

(ii) pay to the Board of Trustees an amount equal to the annuity reserve and pension reserve required to fund the additional allowance. 

(b)  Periods during which membership was optional.-  

(1) A member may purchase credit for eligibility service for previous service in a position described in § 23-204(a) of this article. 

(2) To purchase the service credit, the member must pay, in a single payment, the contributions, with interest, that the Board of Trustees considers appropriate. 
 

[An. Code 1957, art. 73B, § 10-212; 1994, ch. 6, § 2; 2005, ch. 493, § 2.]